Big Question: How will you be positioned going into 2013?

After an event-filled 12 months, industry experts reveal how they will be shaping their portfolios for the start of the new year

Max King portfolio manager, Investec AM’s multi-asset team Cyclicals The risk-on/risk-off obsession appears to be ending as investors’ reactions to macro events are becoming more subdued. With lower volatility and drawdowns than in the past few years, tactical allocation will be difficult due to the issue of whipsawing, so it will be important to allocate strategically by establishing long-term core positions. We hold overweight positions in risk assets and we are avoiding defensive assets since returns have been gratifyingly good in 2012, but defensive assets will be difficult in ...